BISYS declares special dividend

The Board of Directors of The BISYS Group, Inc (NYSE:BSG) has declared a one-time, special dividend of USD0.15 per share in cash on all issued and outstanding common stock, payable promptly after closing of its merger with Citibank.

The special dividend is payable to stockholders of record on the day prior to the closing of the merger, which is currently expected to occur on August 1, the financial services provider said in a statement.

On closing of the merger, BISYS stockholders will receive USD11.85 per share in cash as merger consideration in addition to the special dividend.